When choosing a forklift, the purchase price is often one of the first things businesses consider. However, the initial cost of a truck is only part of the overall investment.
The real cost of running a forklift can vary significantly depending on its power source, how often it is used and the environment in which it operates. Fuel, electricity, servicing, maintenance and downtime can all affect the total cost of ownership.
So, when it comes to diesel, electric and LPG forklifts, which offers the lowest running costs?
The answer depends on your operation. In this guide, we’ll look at the key differences to help you understand which option could be the most cost-effective for your business.
What Makes Up the Running Cost of a Forklift?
The cost of operating a forklift goes beyond fuel or electricity.
Several factors need to be considered, including:
- Energy or fuel consumption
- Routine servicing
- Repairs and replacement parts
- Battery maintenance and replacement
- Tyre wear
- Operator productivity
- Downtime
- Expected lifespan of the equipment
A forklift that costs less to purchase isn’t necessarily the cheapest to operate over several years. Looking at the complete picture can help businesses make a more informed investment.
Diesel Forklifts
Diesel forklifts are commonly used for demanding outdoor applications where high lifting capacity, durability and long operating periods are required.
One of their biggest advantages is their ability to refuel quickly. Unlike an electric forklift that needs time to recharge, a diesel truck can generally return to work soon after refuelling.
However, diesel forklifts have ongoing fuel and engine maintenance requirements. Regular servicing is essential to keep the engine, transmission and other components operating efficiently.
Where Diesel Forklifts Can Make Sense
Diesel can be a practical option for:
- Heavy-duty applications
- Outdoor yards
- Construction environments
- Rough or uneven surfaces
- Operations requiring long periods of continuous use
For businesses with demanding outdoor applications, the productivity benefits can outweigh the additional fuel and maintenance costs.
Electric Forklifts
Electric forklifts have become increasingly popular, particularly in warehouses and other indoor environments.
Instead of fuel, they use rechargeable batteries, meaning there are no direct exhaust emissions during operation.
Electric forklifts can offer lower day-to-day running costs, particularly where trucks are used regularly in suitable indoor applications.
There are fewer engine-related components to maintain, while energy costs can also be lower than traditional fuel costs depending on electricity prices and usage.
Battery technology is another important consideration. Lithium-ion batteries can provide benefits such as faster charging and reduced maintenance compared with traditional lead-acid batteries.
For more information, take a look at our guide to lithium-ion vs lead-acid forklift batteries.
Where Electric Forklifts Can Make Sense
Electric forklifts are particularly suited to:
- Warehouses
- Manufacturing facilities
- Indoor distribution centres
- Food and retail environments
- Businesses looking to reduce emissions
However, businesses should consider charging requirements and operating patterns before choosing an electric truck.
LPG Forklifts
LPG forklifts offer a middle ground between diesel and electric in many applications.
They can be used indoors where appropriate ventilation is available and are also suitable for many outdoor applications.
LPG forklifts can be refuelled relatively quickly, making them useful for businesses that need to keep trucks working for long periods.
However, businesses need to factor fuel costs, cylinder storage and regular engine servicing into their overall running costs.
Where LPG Forklifts Can Make Sense
LPG can be particularly useful for:
- Mixed indoor and outdoor applications
- Warehousing with suitable ventilation
- Loading and unloading operations
- Businesses requiring quick refuelling
- Operations where longer continuous running periods are required
Diesel vs Electric vs LPG: Which Is Cheapest to Run?
There isn’t one answer that applies to every business.
Electric forklifts can offer attractive running and maintenance costs, particularly for intensive indoor applications. Diesel forklifts can be more practical for demanding outdoor work where durability and rapid refuelling are priorities. LPG can provide flexibility for businesses operating across both indoor and outdoor environments.
The most cost-effective option depends on how the forklift will actually be used.
For example, a warehouse operating several shifts may benefit from the efficiency and charging capabilities of a modern electric forklift. A busy outdoor yard carrying heavy loads may find diesel more practical, while a mixed operation could benefit from LPG.
Don’t Forget Maintenance Costs
Whichever power source you choose, regular maintenance plays an important role in controlling running costs.
Poorly maintained equipment is more likely to consume additional fuel or energy, experience component wear and suffer unexpected breakdowns.
Regular forklift maintenance can help identify developing problems before they become expensive repairs, while scheduled servicing helps keep key components operating efficiently.
Tyres, brakes, hydraulics, lifting components and other forklift parts can all affect the overall cost of keeping a truck on the job.
Downtime Is a Running Cost Too
It’s easy to focus on fuel, electricity and servicing when calculating forklift running costs, but downtime can be considerably more expensive.
If a forklift breaks down during a busy shift, the cost isn’t simply the repair bill. Delayed deliveries, disrupted production and employees waiting for equipment can all affect productivity.
Choosing a reliable forklift and maintaining it properly can therefore have a significant impact on the overall cost of ownership.
How Should You Choose?
Before choosing between diesel, electric and LPG, consider:
Where will the forklift operate? Indoor and outdoor environments have different requirements.
How many hours will it work? Intensive operations may require a different power source from occasional use.
How many shifts do you operate? Charging requirements become particularly important for multi-shift businesses.
What loads will it handle? Load weights and lifting heights can influence the most suitable truck.
What are your long-term priorities? Purchase price, energy costs, maintenance, emissions and productivity should all form part of the decision.
A site survey and professional advice can help you choose a forklift based on your actual application rather than simply the initial purchase price.
Find the Right Forklift for Your Business
At Gwynedd Forklifts, we supply and support a wide range of materials handling equipment for businesses across North Wales, Shropshire, the West Midlands and the North West of England.
Whether you’re considering a diesel, electric or LPG forklift, our experienced team can help you assess your application and identify the most suitable option.
We also provide professional servicing, repairs and maintenance to help keep your equipment operating reliably and control the cost of unexpected downtime.
Contact Gwynedd Forklifts today to discuss your forklift requirements.